Paul L. Kessler - Mar 13, 2024 Form 4 Insider Report for Prairie Operating Co. (PROP)

Role
Director, 10%+ Owner
Signature
/s/ Paul L. Kessler
Stock symbol
PROP
Transactions as of
Mar 13, 2024
Transactions value $
$854,832
Form type
4
Date filed
3/14/2024, 08:20 PM
Previous filing
Jan 2, 2024
Next filing
Apr 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PROP Common Stock Conversion of derivative security $855K +142K +11.56% $6.00 1.37M Mar 13, 2024 By affiliate F1, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding PROP Series D Preferred Stock 797K Mar 13, 2024 Series Preferred Stock 797K By affiliates F2
holding PROP Warrant 292K Mar 13, 2024 Warrant 292K By affiliates F2
holding PROP Warrant 150K Mar 13, 2024 Warrant 150K By affiliates F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On 3/13/24, Bristol Investment Fund, Ltd. ("BIF") exercised warrants to purchase a total of 142,472 shares of common stock at an exercise price of $6.00 per share for an aggregate purchase price of $854,832.00.
F2 BIF holds 3,985.36 shares of Series D Preferred Stock (with stated value of $1,000 per share), convertible at $5.00 per share, a Series D "A" warrant for 292,472 shares (expires May 2028) and a Series D "B" warrant for 150,000 shares (expires May 2024).
F3 Mr. Kessler has voting and dispositive control over the following securities: (i) 985,826 shares of common stock held by Bristol Investment Fund, Ltd., a Cayman Islands exempted company ("BIF") (managed by Bristol Capital Advisors, LLC, a Delaware LLC), (ii) 384,160 shares of common stock held by Bristol Capital, LLC, a Delaware LLC ("BC"), (iii) 3,985.36 shares of Series D Preferred Stock held by BIF, (iv) a Series D "A" warrant for 292,472 shares of common stock and a Series D "B" warrant for 150,000 shares of common stock held by BIF, (v) 3,250 shares of common stock held by Mr. Kessler in his personal capacity; and (vi) 1,377 shares of common stock held by Bristol Capital Advisors Profit Sharing Plan.